Silver futures fall to Rs. 38,407 per kg

New Delhi (July 31)  Taking weak cues from the global market, silver prices declined by 0.14 per cent to Rs. 38,407 per kg at the futures trade as participants reduced their exposure.

At the Multi Commodity Exchange, silver for delivery in September fell Rs. 53 or 0.14 per cent to Rs. 38,407 per kg in a business turnover of 278 lots.

Likewise, the white metal for delivery in December contracts traded lower by Rs. 50 or 0.13 per cent at Rs. 39,050 per kg in three lots.

Analysts attributed the fall to a weak trend in precious metals overseas and profit-booking by participants.

Globally, silver was trading 0.3 per cent down at $16.68 an ounce in Singapore.

BusinessLine